1039-1045 S Virginia St - Storefront Retail/Office FOR SALE


Reno, NV 89502- Midtown Reno
$6,950,000 USD
775-233-7049
1039-1045 S Virginia St, Reno, NV for Sale
$6,950,000 USD
Storefront Retail/Office - FOR SALE
1/19
null | 6.5% Cap Rate

1039-1045 S Virginia St
Reno, NV 89502
Midtown Reno


HIGHLIGHTS

  • Located in the heart of Midtown Reno, immediately south of Downtown Reno
  • Beneficiary of recent and extensive upgrades to the South Virginia transportation corridor
  • High identity, fully restored and upgraded, historically significant commercial building with state-of-the-art finishes
  • Highly visible along South Virginia Street and the new roundabout
  • 100% leased with NNN leases; ease of ownership with full operating expense recovery
  • Located in a tax-free state

OVERVIEW

CBRE, Inc. is pleased to offer for sale a meticulously maintained, fully leased, historic, multi-tenant commercial building in the vibrant heart of Reno's Midtown District. Located at 1039-1045 S. Virginia Street, the property is immediately south of Downtown Reno. The building boasts a strong leasing history with premier tenants on NNN leases, including full CAM recovery covering management and administrative fees. Current tenants include: The Nuclear Company, Parlay6 Brewing Co., Pizzava Pizza, and Rum Sugar Lime. In 2020, the Reno Transportation Commission completed the $90 million “Virginia Street Project,” revitalizing Midtown’s primary transportation corridor between Plumb Lane and Liberty Street. This project included new roundabouts, crosswalks, wider sidewalks, up-dated lighting and landscaping, and intersection upgrades, significantly enhancing accessibility and walkability for businesses throughout Midtown.

FOR SALE DETAILS

PRICE

$6,950,000 USD

PRICE/SF

$594 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

MU-MC

APN/PARCEL ID

014-064-25

ASK ABOUT THIS PROPERTY

Aiman NoursoultanovaCBRE, Inc.More Info
775-233-7049

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Aiman NoursoultanovaCBRE, Inc.More Info
775-233-7049

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.